Plumbing The Depths Of The Greed Swamp!!!!

"Democratic Sen. Bob Casey of Pennsylvania leaned into the podium, almost past the microphone, to make his point to the union crowd about how mad corporate leaders are at him.

“But I got news for them,” Casey told Dauphin County Democrats and AFSCME members. “They should get used to it. Because I’m going to continue to prosecute the case on greedflation and shrinkflation.”

For Democrats trying to defend the White House and Senate majority, Casey is emerging as the tip of the spear in attacking “greedflation” — a blunt term for corporations that jack up prices and rip off shoppers to maximize profits — and trying to reframe the election-year narrative about the economy."
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Phoenix68 said:
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mark francis said:
And demand China end child labor, slavery, and human rights abuses as a condition for doing business with them in the future. Democrats, like former presidential hopeful Michael Bloomberg, prove Democrats are harvesting billions in profits from business dealings with fascist Chinese human rights abusers.


Bloomberg’s business in China has grown. That could create unprecedented entanglements if he is elected president.​

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It makes sense to pressure Hershey's and Nestle, because they are businesses regulated by the US and the EU. The US can fuss about China all it wants, but China cannot be pressured, it is too large for that.
 
"A group of Democratic lawmakers are calling on President Joe Biden to investigate grocery store chains for price manipulation, writing in a letter sent Monday morning that he should use executive authority to take additional enforcement action to address rising food prices without the help of Congress.

The letter, shared exclusively with TIME, comes after a report from the Federal Trade Commission (FTC) found that major grocery chains seemed to take advantage of supply chain disruptions during the pandemic to hike up prices to increase their profits. Sen. Elizabeth Warren, a Massachusetts Democrat who led the letter and is one of its signatories, has called for more competition and stronger enforcement of antitrust laws to bring down grocery prices for families—but her proposed legislation on the topic has been largely stalled in Congress."
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The best way to keep prices low is high taxes on high wages, salaries, unearned income and profits.

We used to have that but it was all removed in the reagan years.

They quickly removed the windfall profits tax.

When greedy people know that most of their revenue is going to go to the government if they make above a certain cap, they make sure they don't make enough to go above that cap.

The result is prices can stay low. Companies have no incentive to move our jobs to other nations. Employees can be paid a living wage with proper benefits and pension and businesses don't have to fear unions.

As soon as taxes were lowered and removed, inflation happened and our jobs started leaving the USA. At the time they went to Japan.

Even reimposing the windfall profits tax alone would help keep greed and inflation in check.

Republicans will never allow that to happen.
 
Phoenix68 said:
"Democratic Sen. Bob Casey of Pennsylvania leaned into the podium, almost past the microphone, to make his point to the union crowd about how mad corporate leaders are at him.

“But I got news for them,” Casey told Dauphin County Democrats and AFSCME members. “They should get used to it. Because I’m going to continue to prosecute the case on greedflation and shrinkflation.”

For Democrats trying to defend the White House and Senate majority, Casey is emerging as the tip of the spear in attacking “greedflation” — a blunt term for corporations that jack up prices and rip off shoppers to maximize profits — and trying to reframe the election-year narrative about the economy."
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Yet only one state AG is suing to stop Kroger from buying Safeway/Albertsons grocery stores. Washington state Attorney General Bob Ferguson. Apparently he's the only one who is out there fighting for us American citizens.

I don't know about other places but where I live, that would mean that Kroger owned Fred Meyer, QFC, Safeway/Albertsons.

That would leave TWO grocery stores not owned by Kroger here. Those being Walmart and Winco.

If anyone believes that allowing Kroger to own so many grocery stores in our nation is a good thing and they won't jack up prices because they basically have a monopoly, I have a beautiful piece of ocean beachfront property in Colorado to sell them.

We have allowed way too many "consolidations" to happen and we have a few companies controlling a large majority of the market.

The truth is that capitalism that isn't properly regulated only results in monopolies. Which results in destroyed economies.

The founders of the nation knew this which is why the inserted one simple sentence into the constitution that gives the government the power to regulate business. It's called the Commerce Clause.

It's just too bad we have allowed conservative politicians to remove so many much needed regulations that protect our people, our economy and our nation.
 
MusicLover said:
The best way to keep prices low is high taxes on high wages, salaries, unearned income and profits.

We used to have that but it was all removed in the reagan years.

They quickly removed the windfall profits tax.
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'Ya need to put a little-more effort into proving what you claim....if you want to put the (pretty-much required) space, between yourself and our local MAGATS....who typically don't know shit....and, lie like Hell.
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Windfall Profit Taxes Have Mixed Results In Recent History
October 24, 2022
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"The IRS announced Thursday that it has collected $1 Billion in back taxes from high-wealth tax cheats — a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration’s signature climate, health care, and tax package signed into law in 2022.

Part of the push for public awareness of high-wealth tax collections is a growing recognition by agency officials that a potential Republican takeover of the White House and Congress could mean massive future budget cuts for the IRS."
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Note that the Fed managed to lower the inflation rate to the lowest in the world without causing unemployment.
No one has ever managed to do that before.
The economy has the lowest unemployment and the most profitable Wall Street in history.
 
"The IRS announced Thursday that it has collected $1 Billion in back taxes from high-wealth tax cheats — a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration’s signature climate, health care, and tax package signed into law in 2022.

Part of the push for public awareness of high-wealth tax collections is a growing recognition by agency officials that a potential Republican takeover of the White House and Congress could mean massive future budget cuts for the IRS."
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Gabriel_Bell said:
Note that the Fed managed to lower the inflation rate to the lowest in the world without causing unemployment.
No one has ever managed to do that before.
The economy has the lowest unemployment and the most profitable Wall Street in history.
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Politicians and pundits are infamous for massaging numbers to fit biased narratives. The costs of living skyrocketed as soon as Biden entered the WH and have not gotten back down to even close to the much lower costs we experienced under Trump.
 
"It is not clear exactly what would count as price gouging under Harris’ proposed federal ban.

But Harris made clear she agrees with those economists who have found that some corporations, rather than merely raising prices in response to a spike in demand relative to existing supply, have taken advantage of market conditions to pad their profits with higher prices. And in select industries, Harris and these economists contend, dominant corporations have found ways to muscle out competition such that there is no natural course-correction mechanism when this price gouging occurs.

What’s more, Harris singled out two industries, beef (i.e. Texass) and pharmaceuticals, that have attracted scrutiny from plenty of Republicans."
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MusicLover said:
Yet only one state AG is suing to stop Kroger from buying Safeway/Albertsons grocery stores. Washington state Attorney General Bob Ferguson. Apparently he's the only one who is out there fighting for us American citizens.

I don't know about other places but where I live, that would mean that Kroger owned Fred Meyer, QFC, Safeway/Albertsons.
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"A top company leader at Kroger has admitted during an antitrust trial the company gouged prices on select items above inflation levels.

While testifying to a Federal Trade Commission attorney Tuesday, Kroger's Senior Director for Pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels."
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mark francis said:
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